In the recent years in Bulgaria, the market of luxury properties is developing extremely dynamically.

The main reason is the so-called millennium generation - young people over 30, who have accumulated money from work in fast-growing spheres like information and computer technology, banking and finance, investment and startup.

In the capital the demand for luxury real estate is most active. The greatest interest has been observed over regions such as: Doctors Garden, top center, the southern parts of the capital, as well as districts such as "Lozenets", "Ivan Vazov", "Iztok" and "Izgrev". The interest in the area around Bulgaria Blvd. isincreasing.

There is a great demand for houses at the foot of Vitosha Mountain, where, once out of the market, the property is realized very quickly.

However, the high-end estate sector faces a number of difficult cases and challenges, real estate companies said. There is a remarkable shortage of modern housing with large, open, functionally distributed spaces and modern furnishings, at the expense of a number of classic real estate with massive furniture and many rooms. Many of the young people's criteria are related to technology and smart housing management systems that are lacking in luxury properties preferred by wealthy people over 60+ years of age, and they are the main owners of the high segment.

Modern customers want to have mobile access to their home heating, lighting, ventilation and security systems and manage them remotely. The most sought after apartments are those with plenty of light, spacious rooms and large terraces that can be used for entertainment with friends. The average area preferred by the buyers is 250 - 400 sq.m.

Scarce supply and increased interest in luxury properties are the reason for the sharp growth in the segment by 15% compared to 2015.

Interest rates on mortgage loans are so low that for the last 28 years they are bringing back the buyers of properties worth more than EUR 600 000, as well as those who buy property forinvestment purpose. Buyers show interest to buy a second property on the Black Sea or in Greece. An extremely dynamic market of luxury properties in Bulgaria in recent years.